Business
California Nanotechnologies Announces Q1 2026 Results
Quarterly revenue of US$717K with significant improvements to customer concentrationAdjusted EBITDA1 loss of US$151K and Positive Cash Flow from Operations of US$72KManufacturing revenues excluding "green steel" customer increased US$350K or 156% YOYLos Angeles, California--(Newsfile Corp. - July 30, 2025) - California Nanotechnologies Corp. (TSXV: CNO) (OTCID: CANOF) ("Cal Nano" or the "Company") is pleased to announce revenues of US$716,553 for the quarter ended May 31, 2025. This represents a
About this update from Cno Financial Group, Inc.
[{"type":"list","items":[{"val":[{"type":"text","content":"Quarterly revenue of US$717K with significant improvements to customer concentration","length":84,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EBITDA1 loss of US$151K and Positive Cash Flow from Operations of US$72K","length":81,"tagName":"p"}]},{"val":[{"type":"text","content":"Manufacturing revenues excluding "green steel" customer increased US$350K or 156% YOY","length":95,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":260,"olType":false},{"type":"text","content":"Los Angeles, California--(Newsfile Corp. - July 30, 2025) - California Nanotechnologies Corp. (TSXV: CNO) (OTCID: CANOF) ("Cal Nano" or the "Company") is pleased to announce revenues of US$716,553 for the quarter ended May 31, 2025. This represents a decrease of 59% compared to the prior year. Adjusted EBITDA1 was a loss of US$152,707 for the fiscal quarter ended May 31, 2025, compared with positive Adjusted EBITDA of US$754,467 in the prior year.","length":476,"tagName":"p"},{"type":"text","content":"Net loss for the fiscal quarter was US$447,887, compared to net income of US$696,042 in the prior fiscal year. The lower net income was mainly due to the lower revenues and gross profit, higher overhead from the Santa Ana manufacturing facility, and growth investments such as the recently announced ISO9001 certification. The previous year's fiscal quarter also benefited from a US$141,829 non-cash, unrealized gain on share purchase warrants2.","length":449,"tagName":"p"},{"type":"text","content":"Diluted earnings per share for the fiscal year was $0.00 compared to diluted earnings per share of $0.01 for the same period last year. The financial statements are available on SEDAR+ at www.sedarplus.ca and on the Company's website.","length":238,"tagName":"p"},{"type":"text","content":""This quarter was impacted by a reduction in revenues from our green steel customer as previously disclosed," stated CEO Eric Eyerman. "In recent quarters, we have pursued efforts to diversify our customer base and transition to longer-term recurring commercial contracts. We saw progress from this initiative with manufacturing revenues, excluding the green steel client, growing 156% year-over-year and customer concentration down significantly. We expect revenue improvements i...